Science, Technology and Innovation in G20 Countries

Selin Arslanhan Memiş

TEPAV

14/04/2015

"1. Major science and technology-driven changes reshape global manufacturing and value chains in recent years. Developments in technology and innovation based strategies have become the basic factors of competitiveness at the level of both countries and companies. One of the basic determinants of economic growth is productivity, which rises with technological change. The focus of new technologies is to enhance productivity and provide solutions for the challenges created by global megatrends in demographics, globalisation and sustainability. At the Brisbane summit in Australia, G20 Leaders set the additional 2.1% growth target by 2018. Within this context, science and technology are critical due to their contribution to the rate of growth as well as its sustainability.

2. Despite being critical for both sustainable growth and the 2.1% target, technology and innovation have not been moved in G20 agenda yet. The parties made an effort to this end over the past years, the most recent of which was the creation of an Innovation-20 group around the G20 summit in Australia last year, as well as the organization of a conference focusing on sustainable growth and biotechnology. This year, during the G20 presidency of Turkey, technology and innovation have been included among the T20 themes. This theme is significant for taking into consideration global challenges and sustainability as well as shaping the future agenda of G20..."